LAUSR

The medium and long-term electricity trading approach considering uncertain renewable energy participation is established based on the bi-level model in this paper. The upper-level is designed to maximize the profitability of power generation companies, while the lower-level aims to maximize the social welfare. Afterwards, a hybrid algorithm combining the discrete and continuous particle swarm optimization is proposed to solve the upper-level model, and the nonlinear programming method is used to address the lower-level model. Finally, verification is performed on the improved IEEE 39-bus system, and simulation results demonstrate that the proposed approach could indeed improve the profit of renewable energy as well as increase the social welfare of power generation enterprises.